NEW YORK, Nov. 16, 2016 /PRNewswire/ -- Attorney
Advertising--Bronstein, Gewirtz & Grossman, LLC notifies
investors that a class action lawsuit has been filed against
TerraVia Holdings, Inc. ("TerraVia" or the "Company") (NASDAQ:
TVIA) and certain of its officers, and is on behalf of shareholders
who purchased or otherwise acquired Arrowhead securities
between August 8, 2016 and
November 7, 2016, both dates
inclusive (the "Class Period"). Such investors are advised to
join this case by visiting the firm's site:
http://www.bgandg.com/tvia.
This class action seeks to recover damages against Defendants
for alleged violations of the federal securities laws under the
Securities Exchange Act of 1934 (the "Exchange Act").
The Complaint alleges that throughout the Class Period,
Defendants made materially false and misleading statements and/or
failed to disclose that: (1) TerraVia's products caused
gastrointestinal problems, including nausea and vomiting; and (2)
consequently, Defendants' statements about TerraVia's business,
operations, and prospects were false and misleading and/or lacked a
reasonable basis at all relevant times.
On November 7, 2016,
Bloomberg broadcasted a news report, "Soylent Thinks It
Found What Was Making People Sick: Algae." The article described
how Soylent, Rosa Foods, Inc.'s meal replacement drink, includes an
algal flour ingredient provided by TerraVia. This ingredient has
caused Soylent consumers to become sick and Rosa Foods said it will
remove the ingredient by early 2017. Mark Brooks, TerraVia's Senior Vice President
denied that the Company's algal flour was responsible for making
consumers sick, however Bloomberg added that TerraVia had
sent a letter in July to EN-R-G Foods, LLC, a separate customer,
warning that TerraVia's algal protein ingredient had been linked to
a "modest number of reports" with similar complaints and ailments,
like nausea and vomiting, connected with EN-R-G's Honey Stinger energy bar. Following this news,
TerraVia stock dropped $0.15 per
share, or 8.11%, to close at $1.70 on
November 7, 2016.
A class action lawsuit has already been filed. If you wish to
review a copy of the Complaint you can visit the firm's site:
www.bgandg.com/tvia or you may contact Peretz Bronstein, Esq. or his Investor Relations
Analyst, Yael Hurwitz of Bronstein,
Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss
in TerraVia you have until January 17,
2017 to request that the Court appoint you as lead
plaintiff. Your ability to share in any recovery doesn't
require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation
boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to
representing institutions and other investor plaintiffs in class
action security litigation, the firm's expertise includes general
corporate and commercial litigation, as well as securities
arbitration. Attorney advertising. Prior results do not
guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael
Hurwitz
212-697-6484 | info@bgandg.com
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SOURCE Bronstein, Gewirtz & Grossman, LLC